Mechanical fasteners utilized in industrial functions embody a variety of merchandise, from bolts and screws to washers and clamps. Fasteners will not be solely utilized in industrial equipment, but additionally development, motor automobiles, and aerospace gear.
1000’s of firms compete on this extremely fragmented international market, together with massive names like Stanley Black & Decker and Berkshire Hathaway.
North America and Western Europe will proceed to account for giant shares of the worldwide industrial fastener market, however the large Chinese language market can also be experiencing robust progress.
Industrial Fastener Business Statistics
Listed below are 5 key insights to know in regards to the $95 billion international industrial fasteners market, primarily based on analysis by The Freedonia Group:
- Market outlook: The worldwide industrial fasteners market is projected to extend at a compound annual progress price of 4.7%, reaching a worth of $119 billion by 2027.
- Value fluctuations: Value will increase for industrial fasteners are anticipated to ease as the availability of supplies stabilizes, however costs will stay elevated resulting from elevated labor prices and different inflationary pressures.
- Regional traits: China and Taiwan will proceed main international manufacturing of business fasteners regardless of commerce restrictions.
- Materials varieties: In 2022, metal and stainless-steel have been the dominant supplies, accounting for 75% of the whole demand. Plastics made up 14%, whereas the remaining 11% was distributed amongst aluminum, copper-based, and different nonferrous metals.
- Prime industrial fastener firms: In 2022, the 5 largest international suppliers of business fasteners have been ITW, Stanley Black & Decker, Berkshire Hathaway, Nifco, and LISI.
For extra info, please see the international industrial fasteners trade research by The Freedonia Group, which incorporates knowledgeable knowledge associated to fasteners market sizing, forecasts, regional traits, firm market share, and different precious info to assist strategic decision-making.
About The Freedonia Group
The Freedonia Group, a division of MarketResearch.com, is a premier worldwide enterprise analysis firm, offering shoppers with product analyses, market forecasts, trade traits, and market share info. From one-person consulting corporations to international conglomerates, our analysts present firms with unbiased, dependable trade market analysis and evaluation to assist them make essential enterprise choices.
